October 2026
Largest CannaTech Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Cronos Group, Verano Holdings, Canopy Growth, SNDL and Aurora Cannabis.
 | Cronos Group Inc headquartered in Toronto, Canada, cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis primarily to Israel. In the U.S., the company has an option to acquire 5.9% of U.S. multistate operator PharmaCann on a fully diluted basis upon easing of federal prohibition. | $3 | +29% | $1.2B | $450M | 3.1x | (10.5x) | ||
| Verano Holdings Corp is a vertically integrated multi-state cannabis operator in the United States. The Company has two reportable segments: (i) cultivation (wholesale) and (ii) retail. The company's consumer brands include Encore, Avexia, MUV, Savvy, BITS and Verano. The company's retail dispensaries operate under brands including Zen Leaf and MUV. The company derives its revenues from Retail segment. | $5 | -23% | $382M | $788M | 1.0x | 33.5x | ||
| Canopy Growth Corp, cultivates and sells medicinal and recreational cannabis and hemp through a portfolio of brands that include Doja, LivRelief, Ace Valley, Deep Space, and others. The Company is engaged in reportable segments namely: Canada cannabis, International markets cannabis, Storz & Bickel, and This Works. The company generates maximum revenue from Canadian cannabis. | $1 | -29% | $351M | $309M | 1.5x | (2.2x) | ||
| SNDL Inc is a private-sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf. The principal activities of the company are the retailing of wines, beers, and spirits. It comprised four reportable segments: liquor retail, cannabis retail, cannabis operations, and investments. Liquor retail includes the sale of wines, beers, and spirits through owned liquor stores. The company generates maximum revenue from liquor retail. | Alcohol+1 | $1 | -43% | $300M | $286M | 0.4x | 10.2x | |
| Aurora Cannabis Inc headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard. Although the company operates in Canada, it has expanded internationally through medical cannabis exporting agreements. The company opertes in Canada, Europe, Australia, and Others, with majority revenue from Canada. | $5 | -8% | $286M | $231M | 1.0x | (7.1x) | ||
| High Tide Inc is a downstream-focused retailer of cannabis products, distributor, and seller of smoking accessories and cannabis lifestyle products. It is a vertically integrated company in the Canadian cannabis market with various brands in its portfolio such as Canna Cabana, Fastendr, Queen of Bud, Grasscity, Daily High Club, and others. The company's reportable operating segments are: Bricks and mortar, which generates maximum revenue, and E-commerce. Geographically, it derives maximum revenue from its business in Canada, followed by the United States of America, and other international markets. | Cannabis+1 | $3 | -15% | $235M | $326M | 0.8x | (33.7x) | |
| TerrAscend Corp is a company focused on creating and delivering quality cannabis products and services that meet the evolving needs of its patients. It also provides education and support programs to physicians and patients through healthcare professionals. In addition, the Company has retail operations in Ontario, Canada, with a majority-owned dispensary in Toronto, Ontario, Canada. It has one operating segment, being the cultivation, production, and sale of cannabis products, with subsidiaries located in Canada and the United States. | $1 | -28% | $158M | $363M | 1.4x | 6.2x | ||
| Cannara Biotech Inc is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for Canadian markets. The company owns two mega Quebec-based facilities. The company operates in in two segments; Indoor cannabis operations segment which includes the cultivation, processing and sale of dried cannabis and cannabis derivatives for the Canadian market and the Real estate operations segment related to the Farnham and Valleyfield building. Majority of the revenue for the company is generated from its Cannabis operations segment. . | $1 | +20% | $144M | $155M | 2.1x | 7.8x | ||
| Leef Brands Inc is a vertically integrated cannabis extraction and manufacturing operator based in California. The company operates in two reportable segments: Wholesale concentrates and Retail. The wholesale concentrate segment includes the propagation, nursery, flowering canopy, drying, processing, manufacturing and distribution of cannabis concentrates. The retail segment includes company owned and operated retail cannabis store in the state of California. It derives majority of the revenue from Wholesale concentrates segment. | $0 | -- | $50M | $60M | 1.7x | (5.8x) | ||
| ZYUS Life Sciences Corp is primarily engaged in the world-wide development and commercialization of cannabinoid-based therapeutics and product candidates. It is a licensed producer and distributor of medical cannabis for both medical and adult recreational access in Canada. The company has one reportable segment: Bio-pharmaceutical Products (including medical cannabis derivatives). Geographically, it operates in Canada; United States; Australia; and European Union. | $0 | -28% | $28M | $45M | 157.8x | (3.8x) | ||
| iAnthus Capital Holdings Inc is a vertically-integrated multi-state owner and operator of licensed cannabis cultivation, processing, and dispensary facilities. The company's operating segments include the Eastern Region and Western Region. It generates a majority of its revenue from the Eastern Region. The Eastern Region includes the company's operations in Florida, Maryland, Massachusetts, New York, New Jersey, Vermont, and its CBD business. Its Western Region includes the company's operations in Arizona, Colorado, and Nevada. | Cannabis+1 | $0 | -50% | $25M | $255M | 1.8x | 66.0x | |
| Rubicon Organics Inc is engaged in the business of the production and sale of cannabis in Canada. The Company produces and processes organic cannabis at its wholly-owned, federally licensed facility in Delta, British Columbia which it sells under its wholly owned and other licensed brands such as Lab Theory, Wildflower, Homestead Cannabis Supply, 1964 Supply Co, and Simply Bare Organic. | $0 | -- | $21M | $30M | 0.7x | 8.4x | ||
| Mountain Valley MD Holdings Inc is a Canada-based company. The firm, along with its subsidiaries, is engaged in implementing its Quicksome oral delivery technologies across a variety of molecules in nutraceutical, vaccine, and pharmaceutical drug applications. The company actively invests in and collaborates on pioneering biotechnologies that have the potential to revolutionize the human health and wellness landscape, drive sustainable increases in plant yields and agricultural farming practices, and broadly support animal husbandry health. The Company is a biotech company focused on advancing solutions to optimize human, animal, and plant health. | $0 | +293% | $19M | $18M | 399.9x | (9.5x) | ||
| HYTN Innovations Inc formulates, manufactures, markets, and sells premium cannabis goods. The company generates revenue from the sale of cannabis-related products such as Cannabis-beverage sales, Cannabis - flower sales, Cannabis - edible sales. The majority of revenue is generated from Cannabis - beverage sales. | $0 | +18% | $12M | $13M | 10.9x | (15.9x) | ||
| Avicanna Inc is a commercial-stage international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based cannabinoid-based products and formulations for the medical and pharmaceutical market segments. It has three operating segments: Canada, International, and Corporate. It generates the majority of its revenue from Canada. | $0 | -- | $11M | $17M | 1.0x | (12.6x) | ||
| PharmaCielo Ltd is a pharma company, with a focus on ethical and sustainable processing and supplying of both THC(tetrahydrocannabinol) and CBD (cannabidiol) medicinal cannabis extracts. It is licensed to produce both CBD-dominant and THC-dominant cannabis extracts. The company operates in Canada, Colombia, Italy, and Mexico and generates the majority of its revenue in the form of the Sale of Cannabis derivative products in America followed by Australia, Africa and Europe. | $0 | -- | $9M | $21M | ||||
| Humanoid Global Holdings Corp operates as an investment issuer. The company provides capital and support services to multiple emerging industries, including esports and psychadelics. | $0 | -84% | $8M | $7M | ||||
| Lexaria Bioscience Corp is a biotechnology company focused on enhancing the bioavailability of active pharmaceutical ingredients using its patented DehydraTECH drug delivery technology. DehydraTECH improves absorption, effectiveness, and tolerability and can be applied to APIs such as GLP-1 and GIP drugs, vitamins, pain medications, hormones, antivirals, nicotine and cannabinoids across therapeutic areas including diabetes, weight loss, epilepsy, hypertension, and heart disease. It can be used in formats such as tablets, capsules, oral suspensions, foods, beverages, and pouches, and supports pharmaceuticals, nutraceuticals, over-the-counter products, and consumer packaged goods. The Company operates one segment: IP licensing, generating revenue from licensing its DehydraTECH technology. | $3 | -78% | $7M | $3M | ||||
| Steep Hill Inc is a science and technology health and wellness company focused on the hemp markets inclusive of plant-based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals. Currently the company, through its subsidiaries holds three industrial hemp licences for the purposes of supplying the market with medicinal and wellness cannabidiol and other cannabinoid-based products. | $0 | -- | $6M | $5M | ||||
| CordovaCann Corp is a Canadian-domiciled company focused on building a diversified cannabis company. The company provides services and investment capital to the processing and production of vertical markets of the cannabis industry. It aims to accelerate retail growth, invest and scale branded products, and leverage excess capacity for white label manufacturing, to drive company profitability. | $0 | -- | $4M | $8M | ||||
| Pharmadrug Inc is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics and naturally derived approved drugs. The Company’s operations comprise of the corporate division in Canada. Geographically, it operates in Germany and Canada. | $0 | -75% | $472K | $2M | ||||
| RAMM Pharma Corp is engaged in the pharmaceutical and medical product business, including cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. The group generates revenue from the sale of medical devices and consumables, the sale of pharmaceutical products, and sale of cosmetics. Geographically, it derives a majority of its revenue from Uruguay. | Cannabis+1 | $0 | -67% | $420K | $367K | |||
| Digicann Ventures Inc Formerly Agra Ventures Ltd is a pharmaceutical company engaged in the sale of cannabis-related products. The company's geographic segment includes Germany and Canada, with the majority of sales coming from Germany. | $0 | -- | $338K | $879K | ||||
| Median | $0 | -28% | $21M | $30M | 1.5x | (3.8x) |
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